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JUL 29, 2013 - Business Insider

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The Average Big American Company Hasn't Paid The Statutory Tax Rate In At Least 45 Years

The OECD estimates that U.S. corporations pay face an average statutory tax rate of 39%, the second highest rate in the developed world.  This is based on a combination of the federal statutory rate and a weighted-average of state-level tax rates. But thanks to various tax breaks and loopholes, corporations actually pay far less than that. "The current S&P 500 median effective tax rate of 30% is almost 10 percentage points below the statutory rate," estimates Goldman Sachs' David Kostin in his latest note to clients. "Over the last 10 years, fewer than 10% of S&P 500 firms have ... Read More

Tags: The Average Big American Company Hasn't Paid The Statutory Tax Rate In At Least 45 Years,  Mitch Mcconnell Latest News